Thursday, July 30, 2009

Eleven of the 25 workers at the Vestas factory in Newport, Isle of Wight, England who have been carrying out a sit-in since Monday July 20 have been sacked with immediate effect.

According to one of the protesters known as “Mike”, the occupiers were given their dismissal notices concealed under slices of their evening meal of pizza. The company said that the protesters have had ample opportunity to air their point of view, and had no choice but to sack eleven of the twenty five workers that they had positively identified; and that given that the fact that the action constituted a “fundamental breach” of trust, that the eleven would not be entitled to redundancy packages. A press release from the company said that Vestas “saw no other choice than to dismiss the 11 employees, who the company has positively identified as the employees currently participating in the occupation of the factory.”

The protesters remained upbeat, vowing to continue their occupation and have called upon the UK government to save the 625 jobs and to nationalise the Danish owned factory. Occupier Ian Terry told the BBC that if the occupiers are forced out, they plan to leave the building “peacefully”.

Vestas management were dealt a setback today in ending the occupation as Newport County Court ruled that the papers accusing the occupiers of aggravate trespass and requiring they surrender the office they occupy by July 29 were improperly served. The case has been adjourned until Tuesday August 4. In court, Judge Graham White said he was “distinctly uncomfortable” with what he perceived as Vestas’ effort to “get around the rules” in retaking the factory from the occupiers.

Legal representation for the Vestas workers had been offered by Bob Crow, secretary of the RMT trade union. Crow has pledged the “full solidarity” of the RMT and seven other unions with the workers occupying the plant.

Vestas management has also been providing the occupiers with hot meals in an apparent response to Crow’s announcement, made on July 24, that the RMT was planning on airlifting food into the factory by helicopter. Crow is meeting today with Ed Miliband, the Environment Minister.

Earlier in the week, Miliband pledged £6 million in funding to an expansion of Vestas’ Isle of Wight research and development centre, which currently employs 110 workers and could, said the Minister, be expanded to employ 40 more.

Rallies continued throughout the week in support of the Vestas occupiers. Since the occupation began, the Vestas workers have received declarations of support and solidarity from a wide swathe of the British left, including but not limited to: political parties Green Party, Respect, the Socialist Party, the Socialist Workers Party, the Alliance for Workers Liberty, and the Communist Party of Britain; the TUCG group, which brings together the BFAWU, FBU, NAPO, NUJ, PCS, POA, RMT, and URTU; and environmental groups Greenpeace, the Campaign against Climate Change, Climate Camp, and Workers’ Climate Action, who claims credit for initiating the campaign to occupy the factory. Attendees of the Big Green Gathering, a large annual environmentalist rally which was due to take place starting today but was suddenly canceled on Sunday, are being encouraged to go to the Isle of Wight and take part in support rallies for Vestas instead.

Speaking to Wikinews about the “red–green” coalition supporting the occupation, a spokesman for the Alliance for Workers’ Liberty said: “We think this struggle is important on at least three grounds — it is central to the struggle for jobs, it is central to the struggle for the environment, and it is central to the struggle for rebuilding the labour movement.”

Photographs shared with Wikinews by the occupiers show the occupiers, mostly young men, talking, carrying out everyday tasks, and keeping in touch with the outside world via mobile phones. The use of mobile telephones in the Vestas occupation has given the press remarkable access to the occupiers and provided an effective platform for relaying their demands and feelings to the media. In contrast, Vestas’s designated media contact for the United Kingdom is on vacation. Attempts to reach Vestas Newport factory manager Patrick Weir, whom a Vestas representative at the company’s Danish headquarters stated was handling press inquiries regarding the occupation, received no reply.

Vestas plans to close the factory on July 31, citing the difficulties of obtaining planning permission for wind farms in the United Kingdom. All blades manufactured at Vestas’ Newport plant are sent to the United States. 1900 employees of the company in Northern Europe face job losses, 625 of them in Vestas’s plants in the south of England.

Sunday, June 26, 2005

The median house price in the United States plunged 6.5% in May to $217,000. In February of 2005, the median price of a home was $237,300.

The Economist newspaper said in its June 16th issue; “In other words, it looks like the biggest bubble in history.” by way of reference to what is happening with housing prices in the USA and much of Europe.

Japan provides an example of how a boom can turn to bust. Property prices have dropped for 14 years in a row (40% from their peak in 1991); and yet, the rise in prices in Japan during the decade before 1991 was less than the increase over the past ten years in most of today’s “housing boom” countries.

The total value of residential property rose by more than $30 trillion over the past five years in developed economies, an increase equivalent to 100% of the combined GDPs of those countries. This increase dwarfs all previous house-price booms and is greater than the global stockmarket bubble in the late 1990s. Much of the recent housing activity is being driven by speculative demand. The National Association of Realtors (NAR) reported that 23% of all American houses bought in 2004 were for investment, not for owners to live in. Another 13% were bought as second homes. NAR also found that 42% of all first-time buyers made no down-payment on their home purchase last year.

Many investors are buying solely because they think prices will keep rising, which is a warning sign of a financial bubble. In Miami, Florida, as many as half of the original buyers resell new apartments even before they are built, and properties can change hands two or three times before somebody finally moves in.

Britain’s Royal Institution of Chartered Surveyors (RICS) reported prices have been falling for ten consecutive months. Forty nine percent of their surveyors reported falling prices in May. This was the weakest report since 1992 during Britain’s previous house-price bust.

Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

Wednesday, January 5, 2005

The International Monetary Fund (IMF) Managing Director Rodrigo Rato offered special relief funds for the countries victim of the tsunami disaster. The money is, however, in the form of a loan. The IMF has been present in the area on various occasions.

The IMF offered a one billion U.S. dollar loan. The money would be given as Emergency Natural Disaster Assistance facility, and would be repaid in full and with interests within 3¼ to 5 years.

The money could help the area tremendously, but since it is a loan as opposed to an outright donation, it may not be as helpful. The loan, some fear, may not lead to economic stability in the long run. Despite the possible long term effects, the governments of the tsunami torn nations may simply have no choice but to accept the offer.

Friday, July 17, 2009

According to the Pew Research Center, a non-advocacy organization that evaluates issues, attitudes and trends shaping the political landscape of the United States, centrism is on the rise in America. According to Pew, the number of Americans identifying themselves as independents has reached the highest level in 70 years.

Recently 36% of Americans say they are independents, 35% identify as Democrats, while 23% see themselves as Republicans. Some people are abandoning the major parties, re-registering as independent or joining third parties.

One of these third parties are the Modern Whig Party (MWP), who have enjoyed phenomenal growth over the past year; from just 3,000 members last summer to 30,000 now. With the Party’s commitment to “fiscal responsibility” and “bold social progression”, several conservative Democrats and centrist Republicans have been attracted to it.

Wikinews reporter Joseph Ford recently spoke with the Modern Whig Party’s chairman, Mike Lebowitz, about the MWP’s history, present state and future prospects. “Our membership is comprised of people from all parts of the mainstream political spectrum,” Lebowitz explains. He says that the MWP has “pragmatic, realistic, and mainstream” approaches to the numerous issues facing America today.

“A number of print and broadcast media outlets have even gone so far as to proclaim that the Modern Whig Party is “potentially viable,” and “makes sense”,” Lebowitz points out. “We are building this organization realistically, methodically and gradually in an effort to get this right.”

He went on to say much more — including why he thinks you should consider leaving the GOP or the Dems for the MWP — in the interview below.

Thursday, December 13, 2007

Victoria Wyndham was one of the most seasoned and accomplished actresses in daytime soap opera television. She played Rachel Cory, the maven of Another World‘s fictional town, Bay City, from 1972 to 1999 when the show went off the air. Wyndham talks about how she was seen as the anchor of a show, and the political infighting to keep it on the air as NBC wanted to wrest control of the long-running soap from Procter & Gamble. Wyndham fought to keep it on the air, but eventually succumbed to the inevitable. She discusses life on the soap opera, and the seven years she spent wandering “in the woods” of Los Angeles seeking direction, now divorced from a character who had come to define her professional career. Happy, healthy and with a family she is proud of, Wyndham has found life after the death of Another World in painting and animals. Below is David Shankbone’s interview with the soap diva.

Tuesday, September 30, 2008

George W. Bush vowed to get the USD 700 billion economic rescue plan through congress in a statement to the media made today.

“Yesterday, the House of Representatives voted on a financial rescue plan that had been negotiated by Congressional leaders of both parties and my administration,” Bush reminded the audience. “Unfortunately, the measure was defeated by a narrow margin. I’m disappointed by the outcome, but I assure our citizens and citizens around the world that this is not the end of the legislative process.”

“Producing legislation is complicated, and it can be contentious. It matters little what a path a bill takes to become law,” he continued. “We’re at a critical moment for our economy, and we need legislation that decisively address the troubled assets now clogging the financial system, helps lenders resume the flow of credit to consumers and businesses, and allows the American economy to get moving again.”

Market Data

“I recognize this is a difficult vote for members of Congress. Many of them don’t like the fact that our economy has reached this point, and I understand that. But the reality is that we are in an urgent situation, and the consequences will grow worse each day if we do not act. The dramatic drop in the stock market that we saw yesterday will have a direct impact on the retirement accounts, pension funds, and personal savings of millions of our citizens. And if our nation continues on this course, the economic damage will be painful and lasting.”World and US markets today are up after severe declines yesterday. Most have recovered 30% of their previous losses, meaning that the potential government expenditure was similar to the market losses.

Bush then said that he knows “many Americans are especially worried about the cost of the legislation.” He then attempted to justify the cost. “The bill the House considered yesterday commits up to 700 billion taxpayer dollars to purchase troubled assets from banks and other financial institutions. That, no question, is a large amount of money. We’re also dealing with a large problem. But to put that in perspective, the drop in the stock market yesterday represented more than a trillion dollars in losses.”

If passed, the bailout plan would have allowed for the United States government to purchase devalued mortgage backed securities, resulting from the subprime mortgage crisis, from troubled financial institutions. The US Treasury Secretary Henry Paulson said the plan could cost up to $700 billion.

Monday, May 1, 2006

Bolivian President Evo Morales has ordered that all foreign-owned natural gas fields be turned over to the national government of Bolivia.

President Morales signed a decree that orders troops to seize the fields “immediately” to ensure gas production. The decree also says that companies have 180 days to sign over their fields or leave the country.

The fields are owned by such companies as the United States‘ Exxon-Mobil Corporation, Brazil‘s Petroleo Brasileiro SA, Spanish-Argentine Repsol YPF SA, and Great Britain‘s BG Group PLC and BP PLC.

“The looting by the foreign companies has ended. We are not a government of mere promises, we follow through on what we propose and what the people demand. We want to ask (the Armed Forces) that starting now, they occupy all the energy fields in Bolivia along with battalions of engineers,” said Mr Morales after signing the decree.

“The time has come, the awaited day, a historic day in which Bolivia retakes absolute control of our natural resources,” added President Morales.

One of Morales’ vows in his presidential campaign was to “recover” the country’s natural resources by renationalizing them. President Morales explained, on a visit to Brazil in January, that renationalising the industry would not mean expelling foreign companies or expropriating foreign property. “Foreign companies have every right to recover investments and make profits, but profits should be balanced”.

Bolivia has the second largest supply of natural gas in South America after Venezuela.

Monday, February 18, 2008

Television producer and owner of the anti-Scientology website www.xenutv.com (XenuTV), Mark Bunker, also known as Wise Beard Man, chatted online with Wikinews for nearly three hours. More than 120 people followed the interview live (many from Project Chanology), which makes this exclusive Wikinews interview our most attended IRC interview to date.

Bunker started XenuTV in 1999 and began to make videos that he provided for the Lisa McPherson Trust. Bunker has been a critic of the Church of Scientology since 1997.

In 2006, he won a Regional Emmy Award after he and KUSI-TV news reporter Lena Lewis produced a documentary news video on the issues with the United States – Mexico border with San Diego, California.